https://www.scmp.com/rss/11/feed The latest banking, finance and business news from Hong Kong and abroad. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu Manulife, HSBC Holdings and Barclays are among the big financial firms that have announced plans to boost their adoption of artificial intelligence, in line with the Hong Kong government’s efforts to promote the use of the technology. Manulife last week said it had relocated Mark Czajkowski, chief AI officer for Asia, to Hong Kong from Singapore, and had appointed Liu Hongjuan as chief AI and data officer of Manulife Hong Kong and Macau, a newly created post, on March 9. HSBC Holdings, the... https://www.scmp.com/business/banking-finance/article/3348897/manulife-hsbc-barclays-among-big-finance-firms-pushing-ai-adoption-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348897/manulife-hsbc-barclays-among-big-finance-firms-pushing-ai-adoption-hong-kong?utm_source=rss_feed Fri, 03 Apr 2026 09:00:08 +0000 Yulu Ao Yulu Ao Chinese toymaker Pop Mart remains under pressure despite carrying out six share buy-backs over the past few days following a sell-off after its results, raising questions over whether the weakness reflects concerns about its Labubu-led growth and valuation. The Beijing-based company has stepped up efforts to support its share price through market purchases. Pop Mart bought back 700,000 shares on Thursday at prices ranging from HK$140.90 to HK$142.30, for a total of HK$99.2 million (US$12.6... https://www.scmp.com/business/china-business/article/3348876/chinas-pop-mart-struggles-stem-slide-despite-buy-backs-amid-labubu-reliance-concerns?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348876/chinas-pop-mart-struggles-stem-slide-despite-buy-backs-amid-labubu-reliance-concerns?utm_source=rss_feed Fri, 03 Apr 2026 04:03:57 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) makers posted a strong rebound in sales last month, shaking off the weak start to the year as local government subsidies and aggressive financing incentives drew in first-time buyers. Momentum is expected to carry through the coming months, with dozens of new models set to debut at the Auto China show in Beijing, likely to stimulate fresh demand. “The sweeping improvement in deliveries revived hopes for a steady [EV] market after a woeful performance in January and... https://www.scmp.com/business/china-business/article/3348799/china-ev-makers-surge-back-march-subsidies-and-financing-spur-demand?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348799/china-ev-makers-surge-back-march-subsidies-and-financing-spur-demand?utm_source=rss_feed Thu, 02 Apr 2026 10:00:12 +0000 Yulu Ao Yulu Ao Chinese e-commerce major JD.com has priced a 10 billion yuan (US$1.5 billion) dual-tranche offshore bond offering, as issuers from mainland China return to the currency amid improving funding conditions. The Beijing-based e-commerce giant said in a filing to the Hong Kong stock exchange on Thursday that the dim sum bond – yuan-denominated notes issued outside the mainland – comprises 7.5 billion yuan of five-year senior unsecured notes carrying a 2.05 per cent coupon, and 2.5 billion yuan of... https://www.scmp.com/business/china-business/article/3348747/chinas-jdcom-returns-dim-sum-bond-market-10b-yuan-offering?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348747/chinas-jdcom-returns-dim-sum-bond-market-10b-yuan-offering?utm_source=rss_feed Thu, 02 Apr 2026 04:30:09 +0000 Peggy Ye Peggy Ye Veteran Hong Kong sports administrator Lawrence Yu Kam-kee is selling his Kowloon Tong home of over 50 years for about HK$190 million (US$24.2 million), after waiting patiently for market conditions to improve. “I had wanted to sell for a long time but waited until the market improved a bit to get a better price,” Yu told the South China Morning Post. He added that he had moved out of the house about a year ago as it was too large for a single occupant. The sale agreement had been signed and a... https://www.scmp.com/business/banking-finance/article/3348677/hong-kong-home-bought-52-years-ago-fetches-owner-252-times-return?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348677/hong-kong-home-bought-52-years-ago-fetches-owner-252-times-return?utm_source=rss_feed Thu, 02 Apr 2026 00:30:08 +0000 Yulu Ao Yulu Ao A burst of 16 new and refiled initial public offering (IPO) applications on Tuesday – including Miniso-backed toy retailer Top Toy – signals a renewed push by companies to tap Hong Kong’s capital markets, as the city looks to cement its standing as a leading global listing venue despite intensifying competition and lingering headwinds. The filings, disclosed by Hong Kong Exchanges and Clearing (HKEX) on March 31, span a range of sectors, though hard-tech firms dominate the pipeline. Companies... https://www.scmp.com/business/china-business/article/3348674/ipo-rush-returns-hong-kong-cements-its-position-top-global-listings?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348674/ipo-rush-returns-hong-kong-cements-its-position-top-global-listings?utm_source=rss_feed Wed, 01 Apr 2026 10:00:32 +0000 Zhang Shidong Zhang Shidong Optimism that the month-long US-Israel war against Iran was nearing a conclusion lifted Hong Kong stocks and other markets in Asia on Wednesday, as investors shifted into risk-on mode after US President Donald Trump said Middle East hostilities could end in two or three weeks. The Hang Seng Index rose 2 per cent to 25,294.03 at the close, its biggest gain in a week. The Hang Seng Tech Index rallied 2.3 per cent. The mainland’s CSI 300 Index climbed 1.7 per cent and the Shanghai Composite Index... https://www.scmp.com/business/china-business/article/3348597/hong-kong-stocks-surge-hopes-rise-end-iran-conflict?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348597/hong-kong-stocks-surge-hopes-rise-end-iran-conflict?utm_source=rss_feed Wed, 01 Apr 2026 02:00:30 +0000 Zhu Wenqian Zhu Wenqian Major Chinese property developers reported operating losses in 2025 as a recovery in the world’s second-largest economy remained elusive after five years of decline, with some headline profits driven mainly by non-cash gains from debt restructuring. China Vanke posted a record 88.56 billion yuan (US$12.9 billion) loss last year in the latest sign that mainland developers continued to struggle under debt pressure and slowing residential sales. The developer said its annual revenue fell 32 per... https://www.scmp.com/business/article/3348596/vanke-posts-record-8856-billion-yuan-loss-china-property-market-woes-linger?utm_source=rss_feed https://www.scmp.com/business/article/3348596/vanke-posts-record-8856-billion-yuan-loss-china-property-market-woes-linger?utm_source=rss_feed Wed, 01 Apr 2026 01:58:21 +0000 Julie Zhang,Enoch Yiu Julie Zhang,Enoch Yiu Hong Kong’s highly anticipated first batch of stablecoin licences did not materialise as expected by the end of March. Industry players said the delay may be caused by a slower-than-expected review process, adding that it could also be due to the regulators’ cautious stance towards launching the first batch of regulated stablecoin licences as the city seeks to cement its status as a digital-asset hub. “I don’t think [the delay] is caused by the market,” said Jack Poon, a member of the task force... https://www.scmp.com/business/banking-finance/article/3348492/hong-kongs-anticipated-stablecoin-licence-end-march-does-not-materialise?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348492/hong-kongs-anticipated-stablecoin-licence-end-march-does-not-materialise?utm_source=rss_feed Wed, 01 Apr 2026 00:30:08 +0000 Enoch Yiu Enoch Yiu Hong Kong has retained its top position in terms of initial public offering (IPO) funds raised in the first quarter of this year but industry experts said the city could lose its lead to the US over the full year given the number of mega IPOs expected there, from OpenAI to Elon Musk’s SpaceX. A total of 37 companies raised about US$13.26 billion on the Hong Kong stock exchange’s main board in the three months ended March 31, according to data released on Tuesday by LSEG Data and Analytics. That... https://www.scmp.com/business/banking-finance/article/3348536/hong-kong-retains-global-ipo-crown-first-quarter-faces-us-mega-listings?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348536/hong-kong-retains-global-ipo-crown-first-quarter-faces-us-mega-listings?utm_source=rss_feed Tue, 31 Mar 2026 11:30:12 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong homebuyers snapped up new launches on Tuesday as developers accelerated sales amid concerns over slower rate cuts and geopolitical tensions in the Middle East. By about 3.50pm, all 254 flats released at the La Mirabelle project in Tseung Kwan O had been sold, according to market agents. “Today’s positive sales results at La Mirabelle is a vote of confidence for the Hong Kong residential market,” said Daryl Ng, chairman of Sino Group. “The Hong Kong residential market fundamentals are... https://www.scmp.com/business/article/3348547/hong-kong-homebuyers-pile-new-launches-despite-rate-jitters-and-middle-east-tensions?utm_source=rss_feed https://www.scmp.com/business/article/3348547/hong-kong-homebuyers-pile-new-launches-despite-rate-jitters-and-middle-east-tensions?utm_source=rss_feed Tue, 31 Mar 2026 09:49:52 +0000 Themis Qi,Eunice Xu Themis Qi,Eunice Xu South Korea has become a focal point of Asia’s petrochemical crisis, a frontline economy suddenly forced to navigate the fallout from the Middle East turmoil while scrambling for alternatives. Its semiconductor and industrial sectors, already heavily dependent on imported naphtha, are now exposed to geopolitical shocks that are rippling across the region. South Korea relies on imports for about 45 per cent of its naphtha demand. About 77 per cent of those come from the Middle East. On Monday,... https://www.scmp.com/business/china-business/article/3348503/asias-chip-industry-faces-naphtha-squeeze-and-south-korea-feels-it-most?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348503/asias-chip-industry-faces-naphtha-squeeze-and-south-korea-feels-it-most?utm_source=rss_feed Tue, 31 Mar 2026 08:30:13 +0000 Daniel Ren Daniel Ren EnerVenue – a rechargeable battery start-up co-founded by Full Vision Capital, the family office of Hong Kong tycoon Peter Lee Ka-kit – has raised US$300 million in its latest round of financing and appointed a new CEO to accelerate the large-scale industrial deployment of its cutting-edge energy storage technology. The California-based company – which also counts government-backed Hong Kong Investment Corporation (HKIC) as an investor – said it would set up a regional headquarters in the city... https://www.scmp.com/business/banking-finance/article/3348514/enervenue-plugs-us300-million-scale-next-gen-batteries-it-eyes-hong-kong-hub?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348514/enervenue-plugs-us300-million-scale-next-gen-batteries-it-eyes-hong-kong-hub?utm_source=rss_feed Tue, 31 Mar 2026 07:39:41 +0000 Enoch Yiu Enoch Yiu Bank of China (Hong Kong), one of three note-issuing banks in the city, reported a modest 5 per cent growth in net profit last year, as exposure to the troubled mainland property sector offset its strong performance in the wealth business. The lender reported a net profit of HK$40.12 billion (US$5.14 billion), or HK$3.7947 per share, compared with HK$38.23 billion a year earlier, according to a stock exchange filing on Monday. The results beat analysts’ estimates of HK$39.3 billion. BOCHK, the... https://www.scmp.com/business/banking-finance/article/3348398/bochk-reports-5-net-profit-growth-bad-debt-exposure-china-offsets-strong-fee-income?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348398/bochk-reports-5-net-profit-growth-bad-debt-exposure-china-offsets-strong-fee-income?utm_source=rss_feed Mon, 30 Mar 2026 09:45:09 +0000 Cao Li Cao Li Hong Kong stocks dropped on Monday as escalating tensions in the Middle East sent oil prices to recent highs. Over the weekend, Yemen’s Iran-backed Houthi rebels launched attacks directly on Israel, which intensified strikes on Tehran. The US has also deployed additional military forces to the Middle East. The escalation pushed up oil prices, with Brent crude jumping as much as 3.7 per cent to US$116.80 a barrel, its highest in more than a week, while West Texas Intermediate rose to US$101 a... https://www.scmp.com/business/article/3348360/hong-kong-stocks-fall-asia-iran-conflict-drives-oil-prices-higher?utm_source=rss_feed https://www.scmp.com/business/article/3348360/hong-kong-stocks-fall-asia-iran-conflict-drives-oil-prices-higher?utm_source=rss_feed Mon, 30 Mar 2026 06:10:13 +0000 Julie Zhang,Daniel Ren Julie Zhang,Daniel Ren Biotech firm Hangzhou Diagens Biotechnology is banking on artificial intelligence-powered chromosome testing to drive profit growth following its Hong Kong listing, as China’s falling fertility rate spurs demand for assisted reproduction. “In China, many young people do not want to marry or have children, and by the time they decide to start a family, they need medical help to do so,” said Diagens’ founder and executive director Song Ning. “We are meeting an increasing number of couples every... https://www.scmp.com/business/banking-finance/article/3348335/chinese-company-use-ai-powered-chromosome-testing-boost-profits-and-fast-track-ivf?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348335/chinese-company-use-ai-powered-chromosome-testing-boost-profits-and-fast-track-ivf?utm_source=rss_feed Mon, 30 Mar 2026 02:45:34 +0000 Wency Chen Wency Chen Yuanjie Semiconductor Technology, a Chinese maker of laser chips for optical communications, has emerged as one of the mainland exchanges’ biggest beneficiaries of the artificial intelligence infrastructure boom – with its shares rising nearly ninefold over the past year as it pursues a Hong Kong listing. The Shaanxi-based integrated device manufacturer, whose shares closed at 1,100 yuan on Friday, now ranks second by share price among mainland-listed companies, trailing only Kweichow Moutai at... https://www.scmp.com/tech/article/3348311/what-makes-yuanjie-chinese-optical-chip-star-and-hong-kong-ipo-candidate-stand-out?utm_source=rss_feed https://www.scmp.com/tech/article/3348311/what-makes-yuanjie-chinese-optical-chip-star-and-hong-kong-ipo-candidate-stand-out?utm_source=rss_feed Mon, 30 Mar 2026 02:00:06 +0000 Julie Zhang Julie Zhang Insilico Medicine has signed a potential multibillion-dollar deal with Eli Lilly to license out an early-stage drug pipeline and provide its artificial intelligence platform services in research and development collaborations. Under the agreement announced on Monday, US-headquartered, Hong Kong-listed Insilico will receive an upfront payment of US$115 million. The deal could have a total value of around US$2.75 billion tied to development, regulatory and commercial milestones, plus tiered... https://www.scmp.com/business/china-business/article/3348333/hong-kong-listed-insilico-medicine-signs-ai-drug-development-deal-eli-lilly?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348333/hong-kong-listed-insilico-medicine-signs-ai-drug-development-deal-eli-lilly?utm_source=rss_feed Mon, 30 Mar 2026 01:24:48 +0000 Themis Qi Themis Qi China’s art market is showing tentative signs of recovery despite economic pressures, according to UBS, which cited rising participation from the next generation of wealthy families. “We have been seeing a rebound, with more trips for auctions and purchases [in China],” said Amy Lo Choi-wan, chairman of UBS Global Wealth Management Asia and CEO of UBS Hong Kong, in an exclusive interview with the South China Morning Post. “So I am optimistic.” Despite a prolonged property downturn and weak... https://www.scmp.com/business/money/markets-investing/article/3348293/sketching-recovery-chinas-art-market-puts-next-gen-buyers-frame-amid-slowdown?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3348293/sketching-recovery-chinas-art-market-puts-next-gen-buyers-frame-amid-slowdown?utm_source=rss_feed Mon, 30 Mar 2026 00:30:17 +0000 Daniel Ren Daniel Ren The cross-border outlicensing activities of Chinese biotech firms reached a record transaction value of US$60 billion in the first quarter of 2026, driven by multinational pharmaceutical companies’ growing appetite for the country’s promising drug candidates. The deal value represented a 73 per cent jump from the same period a year earlier, and accounted for nearly half of the total US$135.7 billion worth of agreements signed throughout 2025, the National Medical Products Administration (NMPA)... https://www.scmp.com/business/china-business/article/3348295/china-biotech-deals-hit-record-innovative-drugs-draw-interest-multinationals?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348295/china-biotech-deals-hit-record-innovative-drugs-draw-interest-multinationals?utm_source=rss_feed Sun, 29 Mar 2026 11:26:21 +0000 Daniel Ren Daniel Ren Transactions of pre-owned homes in major Chinese cities led by Shanghai surged in March, fuelling expectations that the country’s embattled property sector may be stabilising. Analysts and brokers said a more active resale market pointed to a gradual return of confidence among homebuyers after a three-year downturn. In Shanghai, about 22,000 second-hand homes changed hands between March 1 and 23, up 170 per cent from the same period a month earlier, according to data from local financial outlet... https://www.scmp.com/business/banking-finance/article/3348255/rising-second-hand-home-sales-offer-tentative-signs-floor-chinas-property-slump?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348255/rising-second-hand-home-sales-offer-tentative-signs-floor-chinas-property-slump?utm_source=rss_feed Sun, 29 Mar 2026 06:00:34 +0000 Julie Zhang Julie Zhang Investment opportunities in cutting-edge technologies are increasingly concentrated in mainland China and Hong Kong, according to Clara Chan Ka-chai, CEO of the Hong Kong Investment Corporation (HKIC). As the Hong Kong government’s investment arm, the HKIC aimed to play a stronger role in attracting capital into high-potential projects and scaling investments through broader funding participation, Chan said during a panel session at the Boao Forum for Asia on Friday. Founded in 2022, the HKIC... https://www.scmp.com/business/banking-finance/article/3348227/hkic-chief-sees-growing-opportunities-cutting-edge-tech-across-china-and-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348227/hkic-chief-sees-growing-opportunities-cutting-edge-tech-across-china-and-hong-kong?utm_source=rss_feed Sat, 28 Mar 2026 03:29:52 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong developers on Friday released 222 new flats in Kowloon, the city’s largest batch of units on a single day since buyers were warned about the uncertain direction of interest rates. K&K Property launched 122 one-bedroom units at foto+, a single residential tower in Mong Kok close to Olympic station, while Wang On Properties put 100 units up for sale at the Connext project in Wong Tai Sin. By 7pm Friday, 103 of the foto+ units had found buyers. Sales at Connext, meanwhile, kicked off at... https://www.scmp.com/business/article/3348175/hong-kong-developers-test-market-222-units-released-amid-interest-rate-uncertainty?utm_source=rss_feed https://www.scmp.com/business/article/3348175/hong-kong-developers-test-market-222-units-released-amid-interest-rate-uncertainty?utm_source=rss_feed Fri, 27 Mar 2026 11:30:11 +0000 Julie Zhang Julie Zhang Beijing Tong Ren Tang Healthcare Investment, a provider of healthcare services based on traditional Chinese medicine, postponed its Hong Kong initial public offering (IPO) on Friday amid tepid investor demand for its shares. The delay is the first of its kind during the current IPO boom. New share offerings in the city raised about US$11.64 billion as of March 18 this year, up 385 per cent from about US$2.4 billion a year earlier, according to LSEG Data & Analytics. Tong Ren Tang was one of six... https://www.scmp.com/business/banking-finance/article/3348101/tong-ren-tang-healthcare-unit-pulls-hong-kong-ipo-scheduled-monday?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3348101/tong-ren-tang-healthcare-unit-pulls-hong-kong-ipo-scheduled-monday?utm_source=rss_feed Fri, 27 Mar 2026 06:30:18 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s lived-in home prices rose 1.6 per cent in February, marking the 11th straight month of positive movement for the residential property segment, as the city’s rents scaled another peak, according to official data. Since reversing a downward trend in April, second-hand home prices had climbed nearly 8 per cent so far, bringing the official index to a 22-month high, according to data released on Friday by the Rating and Valuation Department. The latest monthly increment was also larger... https://www.scmp.com/business/article/3348081/hong-kong-home-prices-surge-near-two-year-high-iran-war-clouds-outlook?utm_source=rss_feed https://www.scmp.com/business/article/3348081/hong-kong-home-prices-surge-near-two-year-high-iran-war-clouds-outlook?utm_source=rss_feed Fri, 27 Mar 2026 04:04:50 +0000 Jolene Otremba Jolene Otremba For Gary Liu, the most profound shift in commerce today is not about faster checkouts or new wallets. It is about who, or what, sits between merchants and consumers. “There’s only one thing that’s fair to everyone - you only have 24 hours a day,” says Liu, CEO of Antom and Senior Vice President of Ant International. “Whichever service occupies the most consumer time, that’s where commerce should be.” Increasingly, that time is being spent not browsing websites, but interacting with AI... https://www.scmp.com/presented/business/topics/c-suite-game-changers/article/3347944/rewriting-commerce-agentic-age?utm_source=rss_feed https://www.scmp.com/presented/business/topics/c-suite-game-changers/article/3347944/rewriting-commerce-agentic-age?utm_source=rss_feed Fri, 27 Mar 2026 00:00:54 +0000 Ben Jiang Ben Jiang Shares of Chinese short-video platform Kuaishou fell more than 13 per cent to HK$45.96 by midday in Hong Kong on Thursday, a day after reporting strong sales growth, as analysts warned that its core advertising and live-streaming businesses could face mounting pressure this year. The sharp decline reflected investor concerns over a cautious growth outlook for the Beijing-based firm, compounded by its heavy spending on artificial intelligence, according to Zhang Xueru, an analyst at investment... https://www.scmp.com/tech/article/3347951/chinas-kuaishou-slumps-analysts-flag-growth-pressure-despite-strong-results?utm_source=rss_feed https://www.scmp.com/tech/article/3347951/chinas-kuaishou-slumps-analysts-flag-growth-pressure-despite-strong-results?utm_source=rss_feed Thu, 26 Mar 2026 05:28:50 +0000 Kandy Wong Kandy Wong Jiangsu Aidea Pharmaceutical, which develops anti-HIV and Aids treatments, plans to tap Hong Kong’s initial public offering (IPO) market as it sets its sights on expansion into the US and Europe in the coming years, an executive said. The company, listed on the Shanghai Stock Exchange’s Star Market, described Hong Kong as a “good window” for going global, citing the city’s “flexible” fundraising environment. Many Chinese corporations – including those in the pharmaceutical sector – would... https://www.scmp.com/business/banking-finance/article/3347933/chinas-jiangsu-aidea-eyes-hong-kong-listing-gateway-us-and-european-aids-markets?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347933/chinas-jiangsu-aidea-eyes-hong-kong-listing-gateway-us-and-european-aids-markets?utm_source=rss_feed Thu, 26 Mar 2026 04:00:19 +0000 Kandy Wong Kandy Wong Professor Kenneth Rogoff of Harvard University has repeatedly warned that the US dollar is approaching a crisis of legitimacy. Having written extensively on the global recession in the late 2000s, Rogoff has turned his focus to the US currency’s increasingly unstable place at the top of the world’s financial hierarchy. A former chief economist at the International Monetary Fund and a chess grandmaster, he published Our Dollar, Your Problem in May last year. In this interview, Rogoff elaborates... https://www.scmp.com/plus/news/china/money-wealth/article/3347930/euro-chinese-yuan-end-us-dollar-dominance-top-economist-says?utm_source=rss_feed https://www.scmp.com/plus/news/china/money-wealth/article/3347930/euro-chinese-yuan-end-us-dollar-dominance-top-economist-says?utm_source=rss_feed Thu, 26 Mar 2026 02:31:08 +0000 Zhang Shidong Zhang Shidong Global stock buy-backs rose to a record US$1.46 trillion in 2025, as listed companies stepped up efforts to return cash to public shareholders amid a rally in equities, according to US asset-management firm Capital Group. Repurchases by the world’s largest publicly traded companies tracked by the money manager increased 8.4 per cent year on year, representing a net increase of US$113 billion, Capital Group said in a report released on Wednesday. The US led global buy-backs, accounting for 71 per... https://www.scmp.com/business/china-business/article/3347826/global-buy-backs-hit-record-mainland-china-hong-kong-see-declines-capital-group?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347826/global-buy-backs-hit-record-mainland-china-hong-kong-see-declines-capital-group?utm_source=rss_feed Wed, 25 Mar 2026 07:30:08 +0000 Peggy Ye Peggy Ye Turkey’s largest private bank plans to set up a Hong Kong office, according to sources familiar with the matter, in a move that underscores the city’s role as a gateway for lenders seeking to connect China and Asian markets with the Middle East. Turkiye Is Bankasi’s board approved the Hong Kong expansion plan two months ago and the lender was awaiting clearance from Turkish authorities before formally approaching the Hong Kong Monetary Authority for a banking licence, the sources said. If... https://www.scmp.com/business/banking-finance/article/3347700/turkeys-biggest-private-bank-plans-hong-kong-entry-amid-middle-east-tensions-sources?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347700/turkeys-biggest-private-bank-plans-hong-kong-entry-amid-middle-east-tensions-sources?utm_source=rss_feed Wed, 25 Mar 2026 02:30:09 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks extended their rebound on Wednesday on signs that a diplomatic solution to Middle East tensions was making progress. The Hang Seng Index rose 1.1 per cent to 25,335.95 at the close, adding to a 2.7 per cent gain a day earlier. Technology stocks advanced, driving the Hang Seng Tech Index up by 1.9 per cent, after China’s anti-monopoly regulator called for an end to the price war in the on-demand food delivery market. On the mainland, the CSI 300 Index climbed 1.4 per cent and the... https://www.scmp.com/business/china-business/article/3347782/hong-kong-stocks-extend-rebound-signs-diplomatic-path-iran-conflict?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347782/hong-kong-stocks-extend-rebound-signs-diplomatic-path-iran-conflict?utm_source=rss_feed Wed, 25 Mar 2026 02:03:21 +0000 Zhu Wenqian Zhu Wenqian Major Chinese consumer stocks listed in Hong Kong rose immediately after reporting strong full-year earnings, but retreated on Wednesday. Analysts said the results did not point to a broad recovery in the consumer market but instead underscored structural divergence and new growth drivers in mainland China consumption. Jeweller Laopu Gold posted stronger-than-expected results for 2025, with revenues of 27.3 billion yuan (US$4 billion) last year, a 221 per cent surge year on year, while net... https://www.scmp.com/business/banking-finance/article/3347779/china-consumer-stocks-jump-strong-earnings-analysts-warn-limited-recovery?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347779/china-consumer-stocks-jump-strong-earnings-analysts-warn-limited-recovery?utm_source=rss_feed Wed, 25 Mar 2026 01:39:46 +0000 Peggy Ye Peggy Ye Hong Kong is a stable base for global wealth as rising geopolitical tensions and economic uncertainties prompt wealthy families to rethink where they base their assets, according to Financial Secretary Paul Chan Mo-po. “We are living in a world marked by uncertainty and conflicts,” Chan said at the gala dinner of the Wealth for Good in Hong Kong Summit on Tuesday evening. “The rules-based international order is under strain. Some even say it has been ruptured.” Facing such a situation, investors... https://www.scmp.com/business/banking-finance/article/3347752/hong-kong-safe-harbour-family-wealth-global-tensions-rise-officials-say?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347752/hong-kong-safe-harbour-family-wealth-global-tensions-rise-officials-say?utm_source=rss_feed Tue, 24 Mar 2026 13:52:05 +0000 Enoch Yiu Enoch Yiu Hong Kong Investment Corporation (HKIC), the government’s investment arm, has teamed up with venture capital firm Gobi Partners and the University of Hong Kong (HKU) to launch a fund on Tuesday to invest in technology start-ups spun off from the university’s research breakthroughs, according to an HKIC statement. Gobi-HKU Fund I made two investments at its launch: Manifold Tech, which develops spatial intelligence for robotics, and AilsynBio, which focuses on artificial intelligence-driven drug... https://www.scmp.com/business/banking-finance/article/3347689/hkic-gobi-partners-and-hku-team-fund-backing-university-research-start-ups?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347689/hkic-gobi-partners-and-hku-team-fund-backing-university-research-start-ups?utm_source=rss_feed Tue, 24 Mar 2026 07:21:49 +0000 Enoch Yiu Enoch Yiu The electronic platform of the Mandatory Provident Fund (eMPF) will cut administration fees for 378 investment funds by more than 21 per cent from April 1, the pension regulator said on Tuesday, adding that this will achieve its cost-saving target of HK$50 billion (US$6.4 billion) in less than 10 years. Financial Secretary Paul Chan Mo-po approved the reduction, which would lower administration costs from 0.37 per cent to 0.29 per cent of assets under management, representing a 21.6 per cent fee... https://www.scmp.com/business/banking-finance/article/3347671/hong-kongs-empf-cut-fees-216-april-saving-us64-billion-10-years?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347671/hong-kongs-empf-cut-fees-216-april-saving-us64-billion-10-years?utm_source=rss_feed Tue, 24 Mar 2026 05:06:37 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks rebounded on Tuesday on signs of a de-escalation of the US-Israel war against Iran after President Donald Trump said he would delay any attacks on the Gulf nation’s energy facilities. The Hang Seng Index surged 2.8 per cent to 25,063.71 at the close. The Hang Seng Tech Index gained 2.5 per cent. On the mainland, the CSI 300 Index climbed 1.3 per cent and the Shanghai Composite Index advanced 1.8 per cent. Biotech firm Wuxi AppTec rallied 11 per cent to HK$113.60 after its net... https://www.scmp.com/business/china-business/article/3347649/hong-kong-stocks-rebound-hopes-us-iran-deal-tensions-ease?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347649/hong-kong-stocks-rebound-hopes-us-iran-deal-tensions-ease?utm_source=rss_feed Tue, 24 Mar 2026 02:00:45 +0000 Zhang Shidong Zhang Shidong Country Garden Holdings, the debt-ridden Chinese property developer, likely returned to profit last year, as a non-cash gain from its debt revamp improved the balance sheet. The Guangdong province-based company may have posted net income between 1 billion yuan (US$145 million) and 2.2 billion yuan in 2025, according to a filing with the Hong Kong stock exchange on Monday night. That compares with a loss of about 35.2 billion yuan a year earlier. The turnaround was mainly attributable to the... https://www.scmp.com/business/china-business/article/3347648/country-garden-expected-record-22-billion-yuan-profit-after-huge-turnaround?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347648/country-garden-expected-record-22-billion-yuan-profit-after-huge-turnaround?utm_source=rss_feed Tue, 24 Mar 2026 01:49:26 +0000 Julie Zhang Julie Zhang Private equity investment in the Asia-Pacific region is increasingly flowing into advanced manufacturing and healthcare, as global uncertainties push investors towards businesses with more predictable cash flow, according to Bain & Co research. The move away from the previously dominant technology, media and telecommunications sector “has been a gradual move, driven by the external environment and uncertainties”, said Elsa Sit, practice vice-president in the Asia-Pacific private equity team with... https://www.scmp.com/business/banking-finance/article/3347629/asian-private-equity-focused-cash-flow-fundraising-falls-12-year-low?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347629/asian-private-equity-focused-cash-flow-fundraising-falls-12-year-low?utm_source=rss_feed Tue, 24 Mar 2026 01:00:31 +0000 Themis Qi Themis Qi Three Chinese electric vehicle (EV) makers have raised prices for some models in response to rising supply chain costs, but analysts say the increases are unlikely to be sustained given weakening domestic demand. Xiaomi became the latest manufacturer to adjust pricing on March 19, announcing that its new-generation SU7 standard version would start at 219,900 yuan (US$31,800) – a 4,000 yuan increase over the previous model. Founder and CEO Lei Jun had attributed the rise to aggressive surges in... https://www.scmp.com/business/banking-finance/article/3347527/three-chinese-ev-makers-raise-prices-analysts-warn-weak-demand-could-force-reversal?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347527/three-chinese-ev-makers-raise-prices-analysts-warn-weak-demand-could-force-reversal?utm_source=rss_feed Mon, 23 Mar 2026 23:30:08 +0000 Themis Qi Themis Qi About 130 family office decision-makers and affluent second-generation members from across the world attended a dinner held by the Hong Kong government on Monday evening, including billionaire Pop Mart founder, chairman and CEO Wang Ning. The dinner set the stage for the fourth edition of the Wealth for Good in Hong Kong (WGHK) Summit, themed “Building Lasting Legacies”, which will take place on Tuesday, as the city promotes its capabilities as an international wealth management hub amid global... https://www.scmp.com/business/banking-finance/article/3347628/hong-kongs-family-office-summit-draws-pop-mart-billionaire-among-global-guest-list?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347628/hong-kongs-family-office-summit-draws-pop-mart-billionaire-among-global-guest-list?utm_source=rss_feed Mon, 23 Mar 2026 14:13:17 +0000 Enoch Yiu Enoch Yiu JPMorgan Chase plans to expand its corporate banking team by about 10 per cent across Asia-Pacific this year, as its plans in the region will not be slowed down by uncertainties arising from the US-Israel war on Iran, according to a senior executive. The hiring campaign was part of the lender’s longer-term plan, which aimed to increase its headcount in the region by 40 per cent between 2023 and 2026, said James Roddy, head of global corporate banking. The corporate banking business in... https://www.scmp.com/business/banking-finance/article/3347354/jpmorgan-expand-asia-pacific-team-10-year-undeterred-middle-east-conflict?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347354/jpmorgan-expand-asia-pacific-team-10-year-undeterred-middle-east-conflict?utm_source=rss_feed Mon, 23 Mar 2026 00:30:15 +0000 Wency Chen Wency Chen “Tokens are the new commodity,” said Nvidia CEO Jensen Huang, clad in his iconic leather jacket, at the company’s annual flagship developer conference, GTC, last week in San Jose, California. The chip designer’s helmsman wants to recast his company not as a silicon vendor but as the architect of what he calls “AI [artificial intelligence] factories”, whose standard product is “token”. While Nvidia is busy writing the rules of a new token economy, a parallel debate is emerging in China around the... https://www.scmp.com/tech/big-tech/article/3347495/how-china-could-dominate-ai-eras-tokenomics-vast-power-grids-and-low-cost-models?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3347495/how-china-could-dominate-ai-eras-tokenomics-vast-power-grids-and-low-cost-models?utm_source=rss_feed Sun, 22 Mar 2026 23:30:22 +0000 Cheryl Arcibal Cheryl Arcibal Hongkonger Katie Chan was hoping to buy a flat to live in, and although the 37-year-old accountant was in no rush, the potential longer pause in interest rate cuts could delay her decision. For Chan, the ideal mortgage would be if the one-month Hong Kong interbank offered rate (Hibor) fell below 1.95 per cent, but this year the key driver for local mortgage costs and corporate borrowing rates had only dropped to as low as 2.02 per cent, according to data tracked by the Hong Kong Association of... https://www.scmp.com/business/article/3347469/potential-rate-cut-pause-geopolitical-tensions-may-cloud-hong-kong-property-recovery?utm_source=rss_feed https://www.scmp.com/business/article/3347469/potential-rate-cut-pause-geopolitical-tensions-may-cloud-hong-kong-property-recovery?utm_source=rss_feed Sun, 22 Mar 2026 23:30:16 +0000 Yeon Woo Lee Yeon Woo Lee Gold prices have continued to weaken despite escalating tensions in the US-Israel conflict with Iran, breaking from the metal’s traditional role as a geopolitical hedge, as fading expectations of interest rate cuts and a stronger US dollar weigh on sentiment, analysts said. The metal has declined about 15 per cent since a brief surge on March 2, when prices climbed to around US$5,300 per ounce following US and Israeli strikes on Iran. A modest rebound driven by technical buying on Friday did... https://www.scmp.com/business/commodities/article/3347473/gold-slides-hawkish-fed-and-strong-us-dollar-override-geopolitical-fears?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3347473/gold-slides-hawkish-fed-and-strong-us-dollar-override-geopolitical-fears?utm_source=rss_feed Sun, 22 Mar 2026 09:00:27 +0000 Peggy Ye Peggy Ye Retailers and restaurant operators in Hong Kong are rethinking how they use space as rents fall and demand weakens by moving back to street-level shops and experimenting with short-term “pop-up” leases. Hong Kong Hing Kee Java Edible Bird’s Nest (HK JEBN), known locally as “Lau Soeng” – Cantonese for “upstairs” – built its business by avoiding expensive street-front rents and operating from higher floors. It is now doing the opposite. “After the pandemic, the retail market has been weak,” said... https://www.scmp.com/business/companies/article/3347466/upstairs-moves-downstairs-hong-kong-outlets-head-street-level-landlords-cut-rents?utm_source=rss_feed https://www.scmp.com/business/companies/article/3347466/upstairs-moves-downstairs-hong-kong-outlets-head-street-level-landlords-cut-rents?utm_source=rss_feed Sun, 22 Mar 2026 07:30:09 +0000 Themis Qi Themis Qi HSBC CEO Georges Elhedery has vowed to continue investing in China amid escalating trade tensions after witnessing new trade opportunities from Chinese companies going global. While attending the two-day China Development Forum (CDF) 2026 in Beijing on Sunday, Elhedery characterised China’s current trajectory as a “new phase of development” that would define the next era of global economic growth. Although 2025 saw steady growth in global trade, the landscape was complicated by shifting tariffs,... https://www.scmp.com/business/banking-finance/article/3347465/hsbc-vows-keep-investing-china-amid-global-tensions-new-trade-corridors-emerge?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347465/hsbc-vows-keep-investing-china-amid-global-tensions-new-trade-corridors-emerge?utm_source=rss_feed Sun, 22 Mar 2026 06:27:09 +0000 Wency Chen Wency Chen Unitree Robotics, a Hangzhou-based maker of quadruped and humanoid robots, has filed for an initial public offering (IPO) on Shanghai’s Star Market, seeking to raise 4.2 billion yuan (US$610 million) as revenue and profits surge on the back of rising interest in embodied artificial intelligence. The listing application has been formally accepted by Shanghai’s exchange following a “preliminary review” on Friday. The 10-year-old company recorded revenue of 1.71 billion yuan last year, up 335 per... https://www.scmp.com/business/banking-finance/article/3347365/chinas-unitree-robotics-rides-humanoid-tide-it-targets-us610m-ipo?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347365/chinas-unitree-robotics-rides-humanoid-tide-it-targets-us610m-ipo?utm_source=rss_feed Fri, 20 Mar 2026 13:00:16 +0000 Zhang Shidong Zhang Shidong Chinese stocks have emerged as outperformers in the latest oil shock, reversing their reputation as laggards, as crude takes a back seat to renewable fuels in the world’s second-largest economy. The CSI 300 Index of stocks trading on the mainland’s exchanges has dropped 3.1 per cent since the US and Israel began attacks on Iran on February 28, outperforming the S&P 500, the Euro Stoxx 50 and Japan’s Nikkei 225, which have all slid at least 4 per cent during the period. This marked a turnaround... https://www.scmp.com/business/china-business/article/3347296/chinese-stocks-shake-laggard-image-amid-oil-shock-green-transition-pays?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347296/chinese-stocks-shake-laggard-image-amid-oil-shock-green-transition-pays?utm_source=rss_feed Fri, 20 Mar 2026 08:15:30 +0000 Zhang Shidong Zhang Shidong Hong Kong stocks extended declines to cap a third consecutive weekly loss, as escalating Middle East tensions added volatility and Alibaba Group Holding reported a slump in earnings. The Hang Seng Index fell 0.9 per cent to 25,277.32 at the close on Friday, down 0.7 per cent for the week. The Hang Seng Tech Index dropped 1.3 per cent. On the mainland, the Shanghai Composite Index slid 1.2 per cent, closing below the 4,000-point mark for the first time this year, while the CSI 300 Index retreated... https://www.scmp.com/business/china-business/article/3347229/hong-kong-stocks-waver-oil-swings-middle-east-tensions?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347229/hong-kong-stocks-waver-oil-swings-middle-east-tensions?utm_source=rss_feed Fri, 20 Mar 2026 02:02:46 +0000